Final answer:
To calculate profit, multiply the number of tickets by the cost per plate and by the ticket price, then subtract the total cost from the total revenue. If 200 dinners are sold at $9.75 each with a cost of $0.75 per plate, the team should receive a profit of $1800.
Step-by-step explanation:
If the team hopes to sell 200 tickets for a dinner event, we can calculate the expected profit by accounting for both revenues and costs. The cost for food per plate is $0.75, and the ticket price for each dinner is $9.75.
To find the total cost, we multiply the number of tickets by the cost per plate:
Total Cost = number of tickets × cost per plate
= 200 × $0.75
= $150
Next, the total revenue from selling 200 dinners at $9.75 each can be found by multiplication:
Total Revenue = number of tickets × price per ticket
= 200 × $9.75
= $1950
The profit is then the total revenue minus the total cost:
Profit = Total Revenue - Total Cost
= $1950 - $150
= $1800
Consequently, the team should receive $1800 in profit from the event if they sell all 200 tickets at the planned price.